Stock market today: Trade setup for Nifty 50 to global markets; Eight stocks to buy or sell on Friday — 30 May 2025
Stock Market Today: The benchmark Nifty-50 Index manaed to end a volatile trading session on Thursday with gains of 0.33% at 24,833.60. The Bank Nifty also ended 0.23% higher at 55,546.05 as most other sectors led by Realty, Metal and Healthcare gained. The broader indices also ended with almost half a per cent gains.
For Nifty-50 Index 24,700 and 24,650 would act as key support zones and if the market sustains above these levels, the chances of hitting 25,000 -25,100 would become brighter. However, a break below 24,650 could change the sentiment, said Shrikant Chouhan, Head Equity Research, Kotak Securities:
For Bank Nifty, the support is placed near 54,900 and as long as the index remains above this level, a relief rally towards 56,000 cannot be ruled out, said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.
Looking ahead, we expect the market to remain range-bound, with sector rotation and stock-specific movements driven by the final set of Q4 results on Friday, macro-economic indicators, and developments on the US tariff front., said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, suggested three stocks, while Shiju Koothupalakkal, Senior Manager — Technical Research, at Prabhudas Lilladher has given three stock picks Jindal Steel & Power Ltd- Bagadia recommends buying Jindal Steel & Power or INDALSTEL at Around ₹ 971 keeping Stoploss at around ₹ 937 for a target price of ₹ 1040
JINDALSTEL is currently trading around ₹ 971, showing a strong recovery from recent lows and indicating a potential reversal in trend. The stock is on the verge of breaking its recent lower-high structure, supported by a significant surge in trading volumes—highlighting increased market participation and renewed buying interest. A sustained move above the ₹ 986 level would confirm a bullish breakout, potentially paving the way for an upside move toward the short-term target of ₹ 1040.
2. Mazagon Dock Shipbuilders Ltd- Bagadia recommends buying Mazagon Dock Shipbuilders or MAZDOCK at around ₹ 3751.20 keeing Stoploss at ₹ 3619 for a target price of ₹ 4014
MAZDOCK is currently trading at ₹ 3751.20, maintaining a strong uptrend marked by the formation of consistent higher highs and higher lows—an indication of sustained bullish momentum. The stock recently reached an all-time high of ₹ 3775, with a critical resistance level identified near ₹ 3800. A decisive breakout above this level could attract further buying interest and drive the stock toward its next potential target of ₹ 4017
3. Glenmark Pharmaceuticals Ltd - Dongre recommends buying Glenmark Pharmaceuticals or GLENMARK at around ₹ 1410 keeping Stoploss at ₹ 1370 for a target price of ₹ 1450
In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1410 and holding above a key support level at ₹ 1370. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1370 to manage downside risk. The target for this trade is set at ₹ 1450, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend.
4. Bharat Electronics Ltd- Dongre recommends buying Bharat Electronics or BEL at ₹ 386 keeping Stoploss at ₹ 375 for a target price of ₹ 405
Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 386 and maintaining a strong support at ₹ 375. The technical setup indicates the potential for a price retracement towards the ₹ 405 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 375 offers a prudent approach to capturing the anticipated upside.
5. Tata Consultancy Services Ltd or TCS- Dongre recommends buying TCS at around ₹ 3500 keeping Stoploss at ₹ 3450 for a target price of ₹ 3600.
Stock is currently trading at ₹ 3500 and appears to be in bullish zone for short term. A bullish reversal pattern has emerged on the daily chart, indicating a potential upmove. The critical support level lies at ₹ 3450, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 3600 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound.
6. Ideaforge Technology Ltd - Koothupalakkal' recommends buying Ideaforge Technology or IDEA FORGE at around ₹ 539.80 for a target price of ₹ 570 keeping Stop loss at ₹ 528
The stock maintained with a strong bullish trend has once again witnessed a significant revival after a short period of correction taking support near the ₹ 501 zone to improve the bias and anticipate for another fresh round of upward move in the coming sessions. The RSI after correcting from the highly overbought zone is well positioned and has indicated a positive trend reversal to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking good,
7. Graphite India Ltd -Koothupalakkal' recommends buying Graphite India or GRAPHITE INDIA at around ₹ 553 for a target price of ₹ 585 keeping Stop loss at ₹ 542
The stock after having a strong steep rise recently has corrected to some extent forming a flag pattern on the daily chart and currently has indicated a breakout to improve the bias and anticipate for fresh upward move in the coming days. The RSI has indicated strength and once again with a positive trend reversal indication has signaled a buy with upside potential visible. With the chart technically well positioned, we suggest buying the stock for an upside target of ₹ 585 level keeping the stop loss of ₹ 542 level.
8. Nava Ltd - Koothupalakkal' recommends buying NAVA at around ₹ 473.90 for a target price of ₹ 500 keeping Stop loss at Around ₹ 462
The stock has indicated a bullish candle formation on the daily chart after a short period of consolidation to come out of the narrow range bound zone and has improved the bias to anticipate for further rise. The RSI is well positioned indicating a trend reversal to signal a buy and has much upside potential to carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock for an upside target of ₹ 500 level keeping the stop loss of ₹ 462 level.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Lulutox Undo Deven Choksey: Well, the market is already getting the leadership from some of the very strong companies like Reliance at this point in time, and one can well argue for some amount of unlocking of valuation happening in this particular company, that is where the market is possibly remaining completely resilient and supporting us. Apart from that, the banking stocks are showing reasonably good signs of giving further support to the market and would not be surprised if they end up giving between 15% to 20% appreciation even from current levels in the course of around 12 to 15 months. So, some of the leaderships are already established in the market. The dark horse in this entire situation could be, at some point in time, the commodities. If they start participating, probably they may run faster compared to many other sectors, which are already quoting at a reasonable valuation at this point of time, and that could be a contra call as well, largely because of the fact that the demand for commodities expected to surge in the following period here after. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. ET Now: So, in the market, you do not make money by looking at yesterday's data, which is called history. In the market, you make money when you understand history and try and understand the future. Which are the next multibaggers? They may not be 100x, but the next five to seven years have the potential to, let us say, be 5x to 7x, five years 5x. Deven Choksey: Yes, a good point and this is something which we keep on debating every single day. In fact, there is a formula going on in the organisation that every single year you should produce one company which becomes 10 to 15 times in the next 10 years and that much patience you should have. So, that is what we have been doing up till now, with the grace of God. Well, currently the situation looks quite conducive to me for those companies which are typically a large degraded player for some of the larger OEMs. For example, in the automobile sector, since I mentioned OEM in the automobile sector, the companies that provide complete engineering and R&D services to this sector are the ones who are going to be participating big time in this changing environment, which we are going to be experiencing. Already, we have started experiencing the beginning of this decade, and it is going to further accelerate as we progress towards the close of this decade. 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But we remain distinctly positive about the characteristics under which these companies will be producing returns, and that is where our focus is from a selection point of view of the stock in the portfolio.
